Sido Muncul Tengah Menggenjot Pasar Export

JAKARTA - PT Industri Jamu and Pharmacy Sido Muncul Tbk (SIDO) has prepared an accurate strategy to pursue the performance growth target in 2023. This strategy, one of which is to boost the export market, in the midst of improving the post-COVID-19 economy.

Sido Muncul President Director David Hidayat, quoted from several sources as saying, the export market will be the focus of selling Sido Muncul products until the end of this year. However, said David, his party still maintains the domestic market.

"In an effort to develop its export business. Sido Muncul targets the portion of export sales to reach 6-7 percent of total sales this year," David said, written on Saturday, August 19.

According to David, export achievements during the first semester of 2023 recorded quite encouraging. This is supported by the contribution of export sales, especially to Southeast Asian countries, especially Malaysia.

"Not only that, continued David, the realization of export market development is also intensive in Kenya, the country of the Arabian peninsula. This is of course believed to further increase the growth of the export market from the company.

Furthermore, David said, the company's performance in six months this year is still very positive. In fact, in early 2023, people's purchasing power had not yet grown optimally.

David is also very optimistic that this positive performance trend will continue in the following quarters, following people's purchasing power soaring again after the pandemic.

"We hope that demand and purchasing power will increase, after economic conditions improve again," concluded David.

For information, Sido Muncul's sales during the first half of this year were still dominated by sales of herbal herbs and supplements which reached Rp1 trillion, followed by sales of food and beverages of Rp595.19 billion, and pharmaceuticals of Rp55.15 billion.

Sido's flagship products appear in overseas markets including Kuku Bima Energy-G! and Tolak Angin. In fact, about 16 percent of the sale of these products comes from the export market with a strong sales volume in the Malaysian and Nigerian markets.

David added that the focus of Sido Muncul's export sales this year is still on countries such as Nigeria, Malaysia, and the Philippines. Currently, the political conditions in Nigeria are gradually stable, giving Sido Muncul the opportunity to strengthen sales in the country, including the surrounding country.

Meanwhile, in the Philippines Sido Muncul will also strengthen the distribution network by adding new distributors which are expected to increase sales in the future.